Faizan Haidar, ET BureauJan 18, 2023 Tension has built up between retailers and malls across India, with leading malls planning to increase rentals every year instead of the current arrangement of every three years. Industry insiders said large retailers are opposing the move given the number of stores they operate. Malls usually sign nine-year agreements with the retailers with a 15% increase in rentals every three years. If rents increase 5% each year, retailers will have to shell out about 17% in three years. “It does not make any sense because we sign our properties for a long term, which…
ET Bureau, Dec 23, 2022 Reliance Retail Ventures, a subsidiary of Reliance Industries and the holding company of the group's retail businesses, signed definitive agreements to acquire German wholesaler Metro AG's India business - Metro Cash & Carry India-for a total cash consideration of ₹2,850 crore. As part of the deal, Reliance will get 31 large format stores in 21 cities as well as the realty portfolio that includes six store-occupied properties, 3,500 staff and Metro's 3 million B2B customers, of which 1 million are frequent buyers. The deal is subject to regulatory and other conditions and is expected to…
Metro AG global chief executive officer Steffen Greubel said the company is at a “very advanced” level of discussions on its India business, suggesting for the first time that it could be looking at an exit from the country soon. “We are very advanced in the process regarding India and are at a certain maturity level in the process. It’s too early to share any information, but we have discussed it greatly,” Greubel told analysts when asked if he is looking at a possible withdrawal from India and the status of talks. “We are very deep in the (sale) process…
Christina Moniz, Financial Express December 12, 2022 This year has seen the entry of several brands into the plant-based meat category, from large players like ITC and Tata Consumer Products to newer brands like Licious. Mock meat, a growing trend especially in Western markets, is a plant-based protein processed to resemble and taste like meat. From vegetarian ‘chicken nuggets’ and sausages to meat-free ‘mutton’ seekh kebabs, most Indian players use ingredients like soya and jackfruit to mimic the texture and taste of meat. The Indian vegan meat market is rather small currently — estimated to be around Rs 250-300 crore.…
Faizan Haider, The Economic Times New Delhi, 5 December 2022 Shoppers Stop is planning to open a value format to attract consumers opting for lower priced brands such as Tata Zudio and Landmark Group's Max, two officials privy to the launch said. The idea is to open stores on ty to sustain and the lines of Zudio and Max and capture a larger market especially in smaller towns," one of them said. "The first store, sizes anywhere between 7,000 8,000 square feet could open in the next three months." Shoppers Stop is foraying in to the mass-priced segment after three…
Geopolitical friction has again sparked renewed concerns over inflation and rising input costs for FMCG companies as @itmeansjustice @whysnavi write. @devangshu commented.
